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Thanks for your reply, Ed.

Partly I am trying to understand the fundamentals and develop an informed opinion about what the prospects are for fossil fuels, and developers of fossil fuel resources. Once the situation clears (if it does any time soon), opportunities may be limited.

A lot also probably depends on the actions of the big producers. There was a lot of speculation during the price run-up earlier in the year that part of the driver of higher prices was decisions on the part of the producers to keep oil in the ground, anticipating a weakening dollar, increasing demand, and thus higher prices ahead. Now that prices have fallen ~67%, wouldn't this be an even bigger factor? Why wouldn't producers be withholding supplies, waiting for higher prices? Not to mention that at $50, some fields, sources, become unprofitable.

--John
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